Quote from article in today's Wall Street Journal on Exxon and Chevron
profits:

Kenneth Cohen, Exxon's vice president in charge of public affairs and
lobbying, urged the US government Friday to open all offshore areas,
as well as federal lands in Alaska and the Rocky Mountains.

He argued the move would create 160,000 jobs and generate $1.7
trillion in government revenue over two decades, citing a study
commissioned by the American Petroleum Institute, an oil industry
trade group. "We can do this in an environmentally sage way," Mr.
Cohen said.

The request drew immediate criticism from Capitol Hill. "At a time
when we are seeking to reinvigorate our economy by moving America
towards a renewable energy future, Exxon asking for more land to
drill is just and embarrassment," said Rep. Edward Markey (D.,
Mass.), chairman of the energy independence and global warming select
committee.

So let's see if I got this right. Here we have private companies with a
long term proven track record of delivering on their promises offering to
use their money (no bailouts here) to find domestic resources that will
create: 1) significant numbers of jobs; 2) reduction of dependence on
foreign oil (i.e. enhanced energy security); and a huge amount of revenue
for the government, all being done in a proven environmentally sound way.
And we have a Democratic leader saying this promise is an embarrassment
since he wants to spend our money (definitely a bailout or at least a huge
subsidy required here) to try to develop unproven or uneconomic technology.

This after the Democrats disingenuously paid lip service to drilling during
the election cycle.

3
comments:

Newsflash: giving the green light to multinational oil corporations to drill in protected areas when they're only exploiting about half of the land they already have is fucking stupid.

Now if they want to start investing in clean, safe, environmentally friendly and strictly regulated nuclear power, they might have a point. But on the other hand, they'd have to emulate..wll...you know...FRANCE.

I agree w/ the first post. It's a little acknowledged fact (conveniently ignored by the so-called "liberal media") that the Repukes under W voted AGAINST drilling in lands that they already own and have the right to drill in. This was around August 2008.

Then suddenly at the puke convention, it was all drill, baby, drill. And I'm like: well go ahead, your liars.

So why doesn't Exxon go ahead and do it on the land they already have access to??

Please.

I own stock in Exxon just so I can vote in their shareholder elections. We have been pushing them for YEARS to start considering developing alternative energy business lines. The top brass constantly dig in their heels and refuse.

It's good old US business stupidity and denseness at work - just like the Big 3 auto companies. No vision, no sound business strategy, and just thumping on the same old drum.

I have no love for T. Boone Pickens, but even HE is advocating for developing alternative energy resources. Of course he wants corporate welfare to enable himself to make gazillions from it, but still... he has the right idea.

These idiots at Exxon could learn a thing or 2 from T. Boone; they should call him up.

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